The Defense Budget Landscape Across Eurasia and Beyond
The defense budget of the Russian Ministry of Defense has approached the levels seen in the mid-1980s, a fact highlighted by Dmitry Peskov, the press secretary to the president. In recent public remarks, the Kremlin spokesperson outlined how the allocation has evolved over the years, reflecting shifts in strategic priorities and security commitments that influence the national budget planning process.
Peskov explained that the country’s defense and security bloc cost roughly three percent of gross domestic product (GDP) at one point, later rising to about 3.4 percent. This trajectory signals an intensified focus on military readiness and geopolitical contingencies while still operating within a broader fiscal framework that guides state spending across sectors.
“Recently it has risen to 6.7%,” the spokesperson noted, underscoring a significant expansion in the portion of the economy devoted to defense and security operations. The figure, while large, is described as not yet critical but very important given current geopolitical preconditions and the surrounding security environment. This distinction matters for both policy planning and public communication about resource allocation.
In January, Alexey Goncharenko, a deputy in Ukraine’s Verkhovna Rada who is listed by Russia as a terrorist and extremist, stated that Ukraine’s defense budget deficit for 2024 stood at 36 percent, equating to 430 billion hryvnia, or slightly over 11.3 billion dollars. He also noted that Ukraine’s December 2023 budget expenditures reached a record 398 billion hryvnia, about 10.5 billion dollars. These figures illuminate the financial pressures on Ukraine’s defense program amid ongoing regional tensions and the broader economic constraints faced by the country.
On the other side of the Atlantic, the United Kingdom’s defense department has reported sizable budgetary gaps, with the defense sector experiencing its largest deficit in more than a decade. This development highlights how major European defense budgets face persistent fiscal challenges even as security requirements evolve.